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The firm I am studying is a sole trader business. It is called Fantasia. Mrs Locum is the owner of the business. This business deals in hairdressing. Sole owners can employ to people to work
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SECTION A Businesses owned by one person only, are called sole trader businesses. The firm I am studying is a sole trader business. It is called Fantasia. Mrs Locum is the owner of the business. This business deals in hairdressing. Sole owners can employ to people to work for them and some can grow and expand and therefore be quite large. Mrs Locum has three employees, one male, one female and one junior. It being a small business the owner can pay personal attention to the customers and people who work for her. The owner is also her own boss and can make quick decisions without having to get someone else's agreement. The amount of money the owner can spend on equipment and materials when establishing the business is limited to how much she can borrow or save. Sole owners have unlimited liability to which Mrs Locum has...
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